Has BCH lost its Strength?

April 7, 2022. No. 207

A few days ago we were praising the news that BCH had been accepted as a means of payment by various public figures. This caused the price to break the schemes with Bitcoin a bit and begin to rise wildly. But the good news doesn't last long these days. That momentum was once again curbed and Bitcoin Cash once again followed the same path as Bitcoin.

What happened? What were the causes? Perhaps the momentum was not enough to convince other investors to continue buying BCH. We all know that BTC does not guarantee half of the things that BCH can provide, but life is complex. Many are not interested in anything other than taking profit, and more than BTC, they look at its value in USDT, which in the end is USD. They do a lot of digital money and cryptocurrencies, but in the end, they always return to the USD. It is that the current society, as much as we say, only 13 years since crypto began, it seems that it does not guarantee a general adoption yet. Evidently, it takes years for this to become a reality.

Despite the fact that the transactions are much faster and with less fees, few care about this when buying BCH. They just look at your price, which is already quite low, and then they don't buy.

Not to mention only BTC, when it comes to transaction fees and their slowness, let's talk about ETH. It is practically the same, and the ethereum network charges an extremely high fee. I have some UMAs that I earn for a task I do, and to send them to the Exchange they charge me a commission of almost 40% of the total. This is unbelievable, a real exaggeration. I preferred to wait and not send them now, hoping that a miracle will happen and lower the commission at some point.

Enter BCH in September 2021 when the price was above $700 USDT for 1 BCH. But the point is that it was in a tailspin since it reached its historical maximum. Even in early 2021, it hovered above $1,000. If I had traded every BCH I've ever earned into USDT, I'd have a good time today of USDT or BCH if I wanted to buy them at this low price. You look at the charts and in the long run, the best decision was to have followed the pattern and sold. But of course, this is coldly analyzed by one at the moment. The hard part is figuring out what happens next. We could predict the future.

This time it couldn't be. But we are still betting that at some point in history BCH will take the privileged place among cryptos. An increase every day in terms of %. If BTC goes up 3% in 24 hours, let BCH go up 5% or more. That is the idea that we want to carry out and that without a doubt they will come to control the entire area.

Did you sell your BCH at this last high that existed these days for the value of $380?

I didn't sell them, I preferred to wait longer and I lost the opportunity. I'd like to interject it later.

Do you still think BCH can recover?

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See you tomorrow guys.